If Hayek and Coase Were Environmentalists: Linking Economics and Ecology

Thursday, February 5, 2015

Working Group on Economic Policy: WP15102

Abstract:

This essay argues that the focus of ecology and economics on equilibria and externalities misses the dynamic connection between humans and nature and that there is a better alternative for linking ecology with economics, one that builds on the teachings of Nobel laureates Friedrich Hayek and Ronald Coase.

 

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